Definitions for "OEICS"
Keywords:  hybrid, oiks, savers, likewise, invest
These are Open-Ended Investment Companies. OEICs are a ‘hybridâ€(tm) of unit trusts and investment trusts (see unit trusts and investment trusts).
A limited investment company whose business it is to manage an investment fund. A stake is made in the fund by buying shares in the OEIC. As it is an open-ended fund, the fund gets bigger and more shares are created the more investors there are. Likewise, the fund reduces if investors sell their shares back to the company.
Open-End Investment Companies. OEICS are a hybrid between closed-end, investment trusts and open-end investment vehicles. OEICS share investment trusts' ability to leverage themselves and, like investment trusts, investors are offered shares in OEICS, whereas they are offered unit trusts. But OEICS are open-end vehicles where the number of shares in issue expands and contracts in line with demand and whose price precisely reflects the net asset value of the total portfolio.